It’s your choice to have choice…
So why are 70% of Australian borrowers using mortgage brokers instead of going direct to their bank for finance? Good question. Below dispels some of the myths around engaging a mortgage broker and why many clients are adding a mortgage broker to their list of trusted professionals.
Myth Number One – Mortgage Brokers are expensive.
Busted – mortgage brokers are paid by the lenders when the finance is settled. Mortgage brokers do the research, feasibility, and comparative analysis to provide the client with finance options and choice, based on the client’s requirements and personal circumstances. A bank can only offer their product set in isolation, which may not suit the borrower’s current position or needs.
Myth Number Two – Mortgage Brokers lack integrity.
Busted – to operate, mortgage brokers need industry qualifications and must be a member of a professional industry association. As a member of an industry association, members must complete a minimum standard of continuing professional development hours per year. Mortgage brokers must operate under an ASIC issued Credit Licence, are heavily regulated and must be compliant with responsible lending regulations, National Consumer Credit Protection Act, Privacy Act and Best Interest Duty. Mortgage brokers are required by law to act in the best interest of their clients with full disclosure.
Myth Number Three – Mortgage Brokers are not professional.
Busted – many serious mortgage brokers are tertiary qualified, very experienced and have previously held very senior positions with many of the major banks both domestically and internationally. These brokers are business people drawing on the available technology to make their business grow, be more efficient and cost effective. Utilising innovative processes and best practices to ensure the client experience is a memorable one which creates value for the client whilst employing client retention initiatives.
Greatmoore Finance staff are widely experienced lenders, with formal qualifications in accounting, finance, financial planning, and investments. Greatmoore Finance is accredited with over 60 lenders nationally, all of them with different offerings. Greatmoore Finance is Moreton Bay based and focuses on serving the local community. Home loans, business loans, commercial loans, development finance and SMSF lending are part of their service offering and they look to provide a professional, fully informed, and holistic experience for their clients.
Greatmoore Finance – more simplicity, more opportunity, and more choice. Phone – 0458 200 757
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